SEC have arrested a third organizer ICO Centra Tech. Startup accused of stealing 32 million dollars
Source:
In early April, the Commission on securities and stock exchanges of the USA the two co-founders of a startup Centra Tech charges in the theft of 32 million dollars. Got it during the ICO. Now the accused in the case was the "main inspiration" of the company Raymond Trapani writes .
How to spend ICO and not to fail
the U.S. regulator believes that the founders of the project have given investors unrealistic promises. Centra Tech in their Whitepaper they wrote that the raised money will be spent on the development of a joint Visa and MasterCard products. In fact, the owners of the company not held negotiations with payment systems, I think in SEC. Still in the case were only Sohrab Sharma and Robert Farkas, they are arrested.
the Regulator appealed against Trapani in new York court. In addition to the deception of investors, the entrepreneur is charged with manipulating the price of tokens. What are the coins in question in the document is not specified.
Raymond Trapani convinced investors the reality of the negotiations that the company supposedly had with reliable financial institutions. Operations with cryptocurrency are not prohibited by the laws of the United States, and the deception of investors and economic crime.
Sharma, Farkas and Trapani can recover $ 32 million, and also permanently prohibit them to hold management positions in companies.
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